Saturday, November 25, 2006

Watch List for Week of 11/27

Below are stocks that are in uptrends (based on ADX and +/-DI) that have pulled back to within 1% of the 20-EMA. Many are not yet ready for entry and still need more confirmation. Some already have a confirmed bounce off support. A few cases aren't trades that I'd take, but I want to see how they would turn out -- to see how reliably the +DI crossover high is followed by a successful bounce off the 20-EMA.
  • AYE -- a close above 44.50 would be a 5+ year high.
  • BCR -- resistance at 84.
  • BMET -- significant resistance at 39.10 (multiple touches over 2-year period), so a break above that would be huge. Recent candles show growing sentiment to turn price back up.
  • CDNS -- resistance at 19; close at 19.50 or higher would be 5+ year high; 20-EMA has held at support for the last 2 months. Recent candles show sentiment to turn prices back up.
  • GERN -- resistance at 9.
  • GSIC -- resistance at 18; it failed to hold as new support on the last retest from above.
  • IM -- resistance at 21; small ascending triangle; close at 21 or higher makes a 7+ year high.
  • IT -- resistance at 20.20; increasing volume on up moves; declining volume on down moves; close above 20.20 would make a 6+ year high.
  • KMX -- resistance at 48; next high would be an all-time high.
  • MAT -- resistance at 24; next high would be a 7+ year high.
  • PFG -- support bounce; weekly and monthly charts show healthy uptrend; pullback risk remains on weekly chart.
  • SNPS -- resistance at 23.
  • TAP -- +DI crossover high with pullback to 20-EMA. Significant resistance at 72. Stochastic and MACD are low.
  • TZIX -- symmetrical triangle with decreasing volume.
  • WAT -- +DI crossover high with pullback to 20-EMA. Resistance at 51. Support at 50.
  • ZNT -- flag setup; Bollinger band squeeze

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